KUALA LUMPUR (Sept 21): Malaysia's Budget 2017, while deemed an election budget, needs fiscal discipline to avoid the risk of a sovereign downgrade as the nation contends with cheaper crude oil and slower economic growth. "The budget's aim should be macro stability which infers any expansionary plans should be done with fiscal discipline. Malaysia's economic growth had slowed amid cheaper crude oil, which forms a crucial component of the nation's exports and Government revenue. Today, Bloomberg data showed that US crude oil for November 2016 was traded at about US$45 (RM187) a barrel at 3:08pm. Crude oil prices have fallen to current levels from some US$112 a barrel in August 2013.

Source: The Edge Markets September 21, 2016 07:55 UTC